H.4.1 Factors Affecting Reserve Balances of Depository Institutions

;b*GovA' F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.l" For immediate release March 18, 19&5 The average of daily figures of total member hank reserves held during the week ended March IT increased a net of $100 million to $21,16"3 million. Estimated currency and coin of member banks increased $230 million and their reserve balances at the Federal Reserve Banks decreased $130 million. Estimated required reserves increased $142 million; and estimated excess reserves decreased $42 million to $324 million. Member bank borrowings at the Federal Reserve Eanks exceeded excess reserves by $46 million, compared with the revised figure of $19 million the week before. The principal changes reducing average reserve balances with Federal Reserve Eanks were decreases of $72 million in gold stock, $45 million in U. S. Gov ernment securities held under repurchase agreements, and $27 million in Federal Re serve float, and increases of $138 million in currency in circulation and $106 million in Treasury deposits with Federal Reserve Eanks. The principal offsetting changes were an increase of $97 million in U. S. Government securities bought outright and a decrease of $l4l million in "other" F. R. accounts (net). Total Reserve Bank credit increased $9 million. As of Wednesday, March 17, holdings of U. S. Government securities bought outright were $97 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $34 million higher, and member bank borrowings were $50 million lower. Outright holdings of bills, notes, and bonds increased $73 million, $7 million, and $17 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Mar. 17, Mar. 10, Mar. 18, Mar. 17, and related items 1265. J3&5 1964, 1065 "(in millions of dollars") Reserve Bank credit: U. S. Government securities- Bought outright--System account 37,308 + 97 +4,113 37,308 Held under repurchase agreements 63 - 45 - 12 96 Acceptances-- Bought outright 54 - 1 8 55 Held under repurchase agreements 74 + 23 t- 4i 92 Discounts and advances — Member bank borrowings 370 - 15 + 12 372 Other 18 - 23 + 18 35 Float li597 - 27 - 161 1,715 Total Reserve Bank credit ~39,IT84~ + 9 +4,004 39,673 Gold stock 14,741 - 72 - 722 14,563 Treasury currency outstanding 5,397 + 3 - 179 5,404 59,622 - 60 +3,103 59,640 Currency in circulation 38,894 +138 +2,202 38,899 Treasury cash holdings 717 + 2 + 273 734 Treasury deposits with F. R. Banks 912 +1C6 + 15 1,099 Foreign deposits with F. R. Eanks 132 - 18 12 149 Other deposits with F. R. Banks 191 - 18 190 9 Other F. R. accounts (net) l,c6l -141 1,022 + 56 517907" + 70 42,093 Member bank reserves: +2,525 With Federal Reserve Eanks 17,714 -130 + 577 17,5^6 Currency and coin (estimated) 3,449 +230 + 373 3,71+ Total reserves held 21,163 +100 + 950 2l72o0 Required reserves (estimated) 20,839 +142 +1,001 21,125 Excess reserves (estimated) 324 - 42 - 51 135 On March 17, 1965, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,111 million, a decrease of $70 million for the week and a decrease of $436 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

-T.''j.;(a,> CCNt-CLIMATED STATEMENT OF CCNIJITIOW OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Mar. 17, Mar. 10, Mar. 18, 1965 1965 1964 A S S E TS Sold certificate account 12,723 - 263 -1,051 Redemption fund for F. R. notes 1,553 + 11 + 153 Total gold certificate reserves - 252 - £98 14,276 Cash (620) 151 1 - 94 Discounts and advances 407 30 - $k6 Acceptances: Bought outright 55 7 Held under repurchase agreements 92 32 55 U- S. Government securities: Bought outright-- Bills 6,7*1 73 +2,987 Certificates -3,265 Notes 25,704 + 7 +4,083 Bonds 4,„8 63 + 17^ + 308 Total bought outright 37^ 3CP + 97 +4,113 Held under repurchase agreements 9^ + 34 44 Total IT. 3. Government securities 37.4C4 + 131 +4, ChO Total loans and securities 37;95? + 133 +3;571 Cash items in process of collection (l,664) 7,689 +2,34l + ^19 Bank premises 102 -- - 1 Other assets ^66 + 63 25 TOTAL ASSETS (2,284) 60,742 +2,284 +2,972 L I A B I L I T I ES Federal Reserve notes (620) 34,094 7 +2,5^6 Deposits: Member hank reserves 17,546 + 296 - 56 U. S. Treasurer--general account 1,099 + 227 - 34 Foreign l49 - 2 + 17 Other 190 - 4 - 2^ Total deposits ISTW? + + 551177 - !<*> referred availability cash items (1,664) 5,974 ^J- - 1 l , . ,8 8668 8 + 5C5 Other liabilities and accrued dividends 565 4k0o + 472 TOTAL LIABILITIES (2,284) 59,6L7 +2,352 +37^23 C A P I T AL A C C O U N TS Capital paid in 534 2 + 26 Surplus 524 -- - 46o Other capital accounts 67 70 11 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,284) 60,742 +2,284 +2,972 Ratio of gold certificate reserves to P- R. note liability (computed from figures as shown on the following pages--not consolidated) 4l.l$ .7$ - 6.2$ Contingent liability on acceptances purchased for foreign correspondents 120 +1 + 20 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis cn the following pages. , MATURITY DISTRIBUTION OF LOANS AKP SECURITIES, MARCH 17, 1965 (Acceptances and securities held uiuter repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U. S. Government securities Changes Pi Js ccunts and advances Acceptances Holding? during week Within 15 days 391 102 1,001 +164 l6 days to 90 days 16 45 7,452 -l& 91 days to 1 year ** -- 15,002 + 77 Over 1 year to 5 years -- -- 12,384 +585 Over 5 years to 10 years -- -- 1,259 -561 Over 10 years -- -- 306 -- Total 407 147 37,404 +131 ** Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(b) STATEMENT CF CCKIITIOK OF EACH FEIERAL RESERVE EAMK CK MARCH 17, 1965 Can New Phila Cleve Rich St. Minne-j Kansas Total Boston York delphia land mond Atlanta Chicago Lcuis 1 apolis| City ]D allas Fran cisco (In millions5 of dollars) A S S E TS Gold certificate account 12,723 629 2,816 701 963 975 619 2,431 520 258 588 474 1,749 Redemption fund for F. R. notes 86 355 85 138 130 92 283 62 29 62 50 17? _LL553L Total geld certificate reserves ih,2i6 717 3A71 786 1,101 1,105 711 2,714 582 287 65O 524 1,928 F. R. notes of other Banks 620 56 186 38 46 34 86 41 2b 12 12 34 49 Cther cash 151 12 34 4 12 11 13 23 7 5 7 5 18 risecunts and advances 407 20 2CC h 21 16 45 63 6 28 Acceptances: Bought outright 55 — 55 -- -- -- -- -- -- Held under repurchase agreements 92 — 92 U. S. Government securities: Bought outright-- Bills 6,7M 35T 1,661 367 569 472 373 1,138 263 136 258 257 89c Certificates -- --. -- -- -_ -- -- _-. -- -- --. -- Notes 25,704 1,359 6,335 1,398 2,170 1,798 1,422 4,338 1,001 520 983 983 3,397 Bonds 4,863 257 1,199 264 411 340 269 821 189 98 186 186 643 Total 37,3C8 1,973 9,195 2,029 3,150 2,610 2,c64 6,297 1,453 754 1,427 1,426 4,930 Held under repurchase agreements 96 — 96 __ -- Total U. S- Government securities 37,404 1,973 9,291 2,029 1,150 2.610 2.C64 6,297 1,451 754 1.427 1,426 4,910.. Total loans and securities 37,958 1,993 9,638 2,033 3,171 2,626 2,109 6,360 1,453 756 1,433 1,454 4,932 Cash items in process of collection 9,353 591 2,044 577 730 707 779 1,472 4ll 264 480 412 886 Bank prem:' ses 102 3 8 3 6 5 19 21 6 4 6 11 IC Other asse~s 566 28 143 30 48 34 32 86 21 12 26 27 79 TCTAL ASSETS 63,026 ; 3,400 15,224 3,471 5,n4 4,522 3,749 10,717 2,506 1,340 2,6l4 2,467 1,9C2 * Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H-4.l(c) STATEMENT OF CONDITION OF EACH FEIERAL RESERVE BANK ON MARCH 17, 1965 r San Total Boston New Phila Cleve- Rich Atlanta Chicago St. Minne- Kansas Dallas Fran York delphia land mond Louis apolis City cisco i millions3 of dollars) L I A B I L I T I ES Federal Reserve notes i 3^,7i4 2,054 8,078 2,032 2,961 2,975 1,997 6,295 1,375 641 1,334 1,073 3,699 Deposits: Member "bank reserves 17,5^6 655 4,672 780 1,247 816 951 2,766 685 390 789 897 2,898 U.S. Treasurer-general aci count 1 1,099 hi 248 55 83 74 100 223 52 45 63 44 Foreign 149 6 1/46 8 13 7 8 20 5 3 6 8 19 Cther 190 l 103 1 6 1 5 9 3 l 67 Total deposits 18,984 7C9~" 5,069 84 3 1,344 903 1,060 3,014 742 44o 8el 950 3,049 Referred availability cash items 7,638 1,634 503 659 557 593 1,162 330 220 346 349 556 Other liabilities and accn led dividends 565 148 31 50 30 21_. 83 20 13_ 24 3i_ 75 . 27 TOTAL LIABILITIES 61,901 3,346 14,929 3,4cr9 5,014 4,465 3,683 10,554 ~27W~ 1,314 2,565 2,403 7,752 CAPITAL ACCOUNTS Capital paid in 25 l4c 29 48 27 31 77 18 13 24 31 71 Surplus 25 137 29 47 26 31 75 18 12 23 31 70 Other capital accounts 67 4 18 4 5 k 4 11 J 1 2 2 9 TOTAL LIABILITIES AWL CAPITAL ACCOUNTS Sh.^ __3,.M__ lg,224 „3,4_7i___J biiiL. 4,522 _3>li9_ 10,717 1,34-0 2,6l4 7,902 Contingent liability en ace. ept- 1 ances purchased for forei. gn correspondents 120J 6 2/31 7 11 6 7 17 4 3 5 7 16 FEIERAL RESERVE AGEKT'S ACCOUNTS F. R. notes outstanding 36,657 2,133 8,565 2,106 3,174 3,098 2,165 6,630 1,453 662 1,385 1,157 4,129 Collateral for F. R. notes: Geld certificate account 6,745 420 1,710 435 500 633 400 1,100 290 117 225 180 735 Eligible paper 3 3 * U. 3. Government securities 31,365 1,765 7,200 i,8co 2,775 2,510 1,850 5,700 1,260 555 1,200 1.050 3,700 ... Total collateral 38,113 2,185 8,910 2,238 3,275 3,l43 2,250 6,800 1,550 672 1,425 1,23c 4,435 y Ai.er deducting $103 million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $ 89 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis